It's time to take another look at Dec Copper. One thing to mention is Copper OI has moved to the March '13 contract, but will still look at Dec for now. The Mar contract looks pretty much the same pattern wise. The past few days have traded sideways creating a bigger time range the the most recent supporting structure. Therefore, that one has been removed. For this pattern to remain in tact we need to see new lows tomorrow or Friday to avoid creating a wider time range than the secondary supporting structre (shown on the chart as m deep and 3:1). You are seeing continued RSI bullish divergence and a possible MACD bullish crossover looming soon. I'd like to see some new lows and an attempt to get down to the BUY ZONE listed for a long entry. I will also be looking for any candlestick patterns that may form in the next few days if we can't get down to my ideal level ~ 3.33.
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